Question 23 Chapter 1 of +2-B – USHA Publication 12 Class

Question 23 Chapter 1 of +2-B

Question 23 Chapter 1 of +2-B

Arrangement of Balance sheet Items

23. (Balance Sheet with Notes to Accounts) Following balances have been extracted from the books of Ojas Limited on 31st March, 2018.

Particular Rs
Equity share capital (50,000 equity of Rs 10 each) 5,00,000
General Reserve 1,00,000
12% Debentures 4,00,000
Debit balance of Statement of profit and loss 50,000
Plant and machinery 4,00,000
Government Bonds 3,00,000
Cash at Bank 1,00,000
Inventories 1,00,000

 

 

The solution of Question 23 Chapter 1 of +2-B: – 

 

Balance Sheet as on 31st March 2018

Particulars
Note no. Amount
II Equity & Liabilities    
1. Shareholders’ Fund    
Share Capital 1 5,00,000
Reserve & Surplus 2 50,000
2. Non-Current Liabilities    
Long term Borrowing 3 4,00,000
Total   9,50,000
II Assets    
1. Non-current Assets    
Fixed Assets    
Tangible Assets 4 4,00,000
Non-Current Investments 5 3,00,000
2. Current Assets    
Inventories 6 1,50,000
Cash & Cash Equivalent   1,00,000
Total   9,50,000



Working Note

Particulars
Note no. Amount
1. Share Capital      
50,000 equity shares of Rs 10 each     5,00,000
2. Reserve and Surplus      
General Reserve 1,00,000    
Dr. Balance in Statement of P&L (50,000)   50,000
3. Long term Borrowings      
12% Debentures     4,00,000
4. Tangible Assets      
Plant & Machinery     4,00,000
5. Non-Current Investments      
Government Bonds     3,00,000
6. Cash & Cash Equivalents      
Cash at Bank     1,00,000

 

To understand more about Balance Sheet please check out following links:

Balance Sheet: Meaning, Format & Examples

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

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T.S. Grewal’s Analysis of Financial Statements

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